``GIC Re’s lean organisational structure with fewer than 500...
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Swiss Re profit rose 18 % to $1.3 billion in Q1 despite California wildfires
The result “gives us confidence in our 2025 targets despite a...
FSIB recommends 5 GMs from 2 PSU re/insurance cos for ED promotions
The five names are- Jayashri Balkrishna, GM, GIC Re for GIC-Re,...
EU’s Dec 5 Russian oil sanctions are already hitting nation’s trade
The bloc’s measures, including a ban on insuring tanker shipments, enter into force on Dec. 5. A Russian cargo still on the water after that date will no longer be covered by a European underwriter or reinsurer. European Union sanctions on Russian oil might still be...
Odisha starts prepping for upcoming ‘cyclone season’
''Odisha usually witnesses the wrath of cyclones during the withdrawal of monsoon in October and November. Odisha's geographical situation and climate change have also caused cyclones during the summers since 2019,'' . Bhubaneswar: The Odisha government has asked its...
Deficient monsoon and excess rains afterwards, UP farmers stare at heavy losses
As per IMD data, Uttar Pradesh recorded almost 30 per cent less rainfall this monsoon season (June 1 to September 30). Because of this, 53 of the total 75 districts recorded deficient rainfall. The lack of rainfall too harmed farmers by affecting their Kharif crops...
Families seek truth as Airbus, Air France face crash trial
They were among 228 people killed in 2009 when their storm-tossed Air France flight from Rio de Janeiro to Paris slammed into the Atlantic. After more than a decade of legal battles, their families at last have a chance at justice No one risks prison in this case;...
AM Best affirms GIC Re’s Financial Strength Rating(FSR) as stable
The Credit Ratings (ratings) reflect GIC Re’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management (ERM). In addition, the ratings factor in a...
Market turmoil may hinder UK’s plans to reform EU insurance solvency rules
“We are absolutely committed to delivering reforms to Solvency II, which could unlock tens of billions of pounds of investment into long-term UK infrastructure,” a government spokesperson said. Kwarteng has said he will announce “an ambitious set of regulatory...
Howden RE appoints Doreen Tan as Director, ASEAN Treaty / Retrocession
Tan will be responsible for servicing clients and markets across Asia Pacific as part of Howden RE’s growing treaty reinsurance division dedicated to the region and her appointment represents Howden’s continued investment in expertise Singapore: Howden Reinsurance...
Australia unveils privacy rule changes after Optus data breach
The changes will enable telcos to share government-issued identification documents with banks to allow them to implement enhanced monitoring for customers impacted by data breaches Australia on Thursday proposed an overhaul of consumer privacy rules that will help...
AM Best Maintains Stable Outlook on Japan Non-Life Insurance Market
While AM Best expects premium revenue to increase, mainly driven by fire, personal accident and other specialty insurance, it is probable that underlying underwriting profit will contract from a higher loss ratio for voluntary automobile insurance. Potentially higher...
Hospitals and infrastructure are most vulnerable to Cyber risks: Moody’s
“We view not-for-profit hospitals as being highly attractive, data-rich targets with average mitigation measures in place to reduce the impact of a potential cyber event,” the report said Around $22 trillion of global debt rated by Moody’s has a “high” or “very high”...